Tesla shares (NASDAQ: TSLA) dropped 5% following CEO Elon Musk’s departure from a leadership role in the Department of Government Efficiency on the morning of the announcement. As of 11:40 a.m. ET, the shares were down 3.2%.
Key sales data indicated a 36% year-over-year decline in Tesla’s sales in Germany in May, while overall EV sales in the region rose by nearly 45%. Additionally, shipments from Tesla’s Chinese factory fell by 15% year-over-year. Musk’s recent public split with President Trump regarding federal spending could complicate regulatory negotiations for Tesla’s autonomous driving technology, raising concerns among investors about potential barriers to standardization.
